Gleneagles House Development Limited

Registered number

13425486

Filleted Accounts

31 March 2025

Gleneagles House Development Limited
Registered number:		13425486
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Current assets
Stocks		1,032,058			1,989,329
Debtors	3	1,756			26,494
Cash at bank and in hand		15,838			(4)
		1,049,652			2,015,819

Creditors: amounts falling due within one year	4	(4,000)			(210,398)

Net current assets			1,045,652			1,805,421

Total assets less current liabilities			1,045,652			1,805,421

Creditors: amounts falling due after more than one year	5		(1,476,432)			(1,917,400)



Net liabilities			(430,780)			(111,979)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(430,880)			(112,079)

Shareholders' funds			(430,780)			(111,979)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Leanne Lloyd Lewis
Director
Approved by the board on 10 December 2025

Gleneagles House Development Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	There was a net deficiency of assets of £430,780 (2024 : £111,979 ) at the balance sheet date, however the director has confirmed her willingness to continue to support the company to enable it to realise the sale if its properties and to continue trading. On this basis the accounts have been prepared as going concern.

	Turnover

	Turnover which relates to the revenue from the sale of developed properties is recognised at the point that the contracts are exchanged.
	Turnover relating to the short-term rental revenues generated on properties while they are held for sale is recognised over the period to which the rental income relates.
	Any other turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.


	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks and WIP are stated at the lower of cost and estimated selling price less costs to complete and sell. WIP comprises of properties being developed for sale. Cost comprises all directly attributable costs incurred to bring the properties to their present location and condition.

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.







	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2025		2024
Number			Number

	Average number of persons employed by the company	1		5


3	Debtors	2025		2024
£			£

	Other debtors	1,756		26,494


4	Creditors: amounts falling due within one year	2025		2024
£			£

	Trade creditors	-		86,160
	Other creditors	4,000		124,238
		4,000		210,398


5	Creditors: amounts falling due after one year	2025		2024
£			£

	Bank loans	-		1,290,000
	Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,476,432		627,400
		1,476,432		1,917,400

	The loan from the connected entity is interest free and is secured. The loan will remain in place for the duration of the development it relates to.

6	Called up share capital	2025		2024
£			£
	Ordinary share capital
	Issued and fully paid
	Ordinary Shares of £1 each	-		-
	A Ordinary Shares of £1 each	50		50
	B Ordinary Shares of £1 each	50		50
		100		100

	The holders of the ordinary shares are entitled to receive dividends as declared from time to time and are entitled to one vote per share at meetings of the company. All ordinary shares rank equally with regard to the company's residual assets.

	Called up share capital represents the nominal value of shares that have been issued.


7	Related party transactions

	At the balance sheet date, the company owed a connected company £0 (2024: £428.10). The balance is held within other creditors due within 1 year.
	At the balance sheet date, the company owed £91,681.62 (2024: was due £101,856.47) to connected companies. The balance is held within other creditors due within 1 year.
	At the balance sheet date, the company owned a connected company £1,384,750.00 (2024: £627,400.00) in respect of a loan it drew during the year. The loan is secured against the assets of the company.



8	Controlling party

	Sydlon Limited is the ultimate controlling party of the company.


9	Other information

	Gleneagles House Development Limited is a private company limited by shares and incorporated in England. Its registered office is:

	481 Green Lanes
	Palmers Green
	London
	N13 4BS